Markets Are Bouncing Back After Bad Chinese Data

Markets are coming off of their lows and turning positive in the
Asian trading session.

Japan's Nikkei is down 0.3%.

Korea's Kospi is up 0.4%

Australia's S&P/ASX is up 0.4%.

Hong Kong's Hang Seng is up 0.4%.

China's Shanghai Composite is up 0.8%.

Moments ago, we learned that China's HSBCPMI fell to 47.6 in August, which was worse
than expected. Earlier this weekend, China told us that its
official manufacturing
PMI number fell to 49.2 in August, which was much worse than
the 50.0 expected by economists. Anything below 50 signals
contraction in the sector.

This has economists worried about a hard landing in the world's
second largest economy.

On a brighter note, China's official non-manufacturing (ie
services) PMI climbed to 56.3 in August from 55.6 a
month ago.